Today, a merchant service provider is a necessary partner to all businesses as they accept payments by debit and credit cards. They act as a one-stop-shop as they offer small and large businesses the ability to accept swift and seamless payments, improve customer satisfaction, and enhance business operations.
Since 2014, New Payment Innovation has offered payment processing to businesses all over Ireland. And as a Guaranteed Irish company, our solutions are built for Irish businesses in all sectors.
What are Merchant Services?
Merchant services encompass a diverse range of financial solutions that empower businesses to accept and process electronic payments. These transactions primarily involve credit and debit cards, spanning various channels such as online payments, mobile payments, and more. Key features include payment processing, fraud prevention, payment management tools, customer service, and the provision of essential equipment and software.
What is a Merchant Service Provider?
How to Choose the Right Merchant Service Provider
Choosing the right merchant service provider is paramount for businesses seeking seamless and secure payment solutions. The decision impacts various aspects of operations, making it crucial to assess business needs and carefully consider the following factors:
Assess Your Business Needs
Start by identifying specific payment processing requirements, considering factors such as sales volume, average transaction value, and preferred payment methods. This assessment forms the foundation for selecting a provider that aligns with your unique business needs.
Delve into comprehensive research to compile a list of potential merchant service providers. Seek recommendations from industry peers, explore online reviews, and consider ratings to gain insights into the experiences of other businesses.
Compare Fees and Pricing
Carefully review and compare fee structures, including transaction fees, monthly fees, setup fees, and equipment rental costs. Look for a provider that offers a transparent and cost-effective solution, avoiding hidden fees and complex pricing structures.
Evaluate Customer Support
Effective customer support is essential for addressing payment-related issues and minimizing downtime. Consider the reputation, availability, and communication channels of each provider to ensure reliable support when needed.
Check PCI Compliance and Other Security Measures
Ensure that the chosen provider adheres to strict security standards, such as PCI DSS, to protect sensitive customer data. Inquire about fraud prevention measures and assess their track record in handling security incidents.
Check Integration Capabilities
Ensure seamless integration with your existing business systems, such as e-commerce platforms, accounting software, and customer relationship management (CRM) systems. Prioritize providers that align with your business’s data management needs.
Reporting and Analytics
Evaluate the reporting and analytics features offered by each provider. Advanced tools can provide valuable insights into sales performance, customer behavior, and payment trends, aiding informed decision-making.
Understand The Contract
Before finalizing an agreement, thoroughly understand the terms of the contract. Negotiate factors like contract length, termination fees, and potential penalties. Clarify policies regarding equipment upgrades and additional services to accommodate potential future changes in your business needs.
Questions to Ask a Merchant Service Provider
2. How do you handle customer support, and what are your support hours?
3. Can you provide references from businesses with similar needs and volumes?
4. What security measures do you have in place to protect against fraud?
5. How seamlessly can your services integrate with my existing business systems?
6. What reporting and analytics tools do you offer for business insights?
7. Can you walk me through the terms of the contract, including fees and any potential additional costs?
New Payment Innovation’s Approach to Merchant Services
NPI’s commitment to innovation and customer-centricity means we’re not just another payment provider – we’re the best merchant service provider in Ireland. Whether you’re a business looking for diverse payment methods, integration with your existing systems, or real-time insights, we’ve got you covered. Here’s how we do merchant services:
Face to Face
For businesses that rely on the stability and familiarity of traditional card transactions, NPI offers seamless card reader options, including wired, wireless, and mobile. These methods ensure that you can accept payments securely through trusted and established channels.
In an era where speed and convenience are paramount, NPI embraces advanced technology for your face-to-face transactions. Our solutions, including contactless payments, enable quick and secure transactions. Customers can simply tap their cards or mobile devices for swift and hassle-free payments, whether they’re shopping in a store or at a vendor’s stall.
Recognising the growing importance of mobile payments, NPI empowers businesses to tap into the mobile-centric world. With our card machines for business, you can offer customers the flexibility to pay with smartphones, digital wallets, and cards, making the payment process both efficient and user-friendly.
NPI understands the importance of streamlining safe online payments for businesses and ensuring a secure and convenient experience for customers.
Our integrated solutions are designed to seamlessly connect with a wide range of e-commerce platforms and payment gateways. This means that whether you’re a business looking to accept online payment or a customer making a purchase, the process is straightforward and secure.
For businesses, NPI’s integration with e-commerce platforms allows for a hassle-free setup, enabling you to accept payments on your website or digital storefront. Our system effortlessly manages the flow of transactions, ensuring a smooth experience for your customers.
Over the Phone
Our virtual payment terminals are at the heart of over-the-phone payments. Notably, they provide a secure platform where businesses can process transactions remotely. This is especially useful for businesses that offer services or sell products over the phone, through catalogues, or via email. By using virtual terminals, you can efficiently handle card transactions from anywhere, thereby enhancing convenience and accessibility for your customers.
Furthermore, security is paramount in over-the-phone transactions, and NPI takes this responsibility seriously. Our systems are designed to ensure the utmost security for both businesses and customers. Card data is handled with care, and our virtual payment terminals adhere to industry standards for secure payments.
You can learn how to take card payments over the phone here.
Contact NPI Today
Explore the NPI difference by getting in touch with our expert team. We’re here to provide guidance, valuable insights, and tailored solutions that align with your unique needs and goals. Reach out to us at 01 4475299 , fill out the contact form and one of our payment gurus will get back to you.
Want to see our card machines for yourself? Come down to our Citywest HQ and have a look around the Experience Suite.